Danske Bank A S Sells 14,028 Shares of Quanta Services, Inc. $PWR

Danske Bank A S decreased its stake in Quanta Services, Inc. (NYSE:PWR) by 9.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 139,784 shares of the construction company’s stock after selling 14,028 shares during the period. Danske Bank A S owned 0.09% of Quanta Services worth $89,813,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in Quanta Services by 4.7% during the 2nd quarter. State Street Corp now owns 6,581,807 shares of the construction company’s stock valued at $4,739,164,000 after purchasing an additional 296,893 shares during the period. Bank of America Corp DE raised its holdings in Quanta Services by 5.4% during the 1st quarter. Bank of America Corp DE now owns 3,444,711 shares of the construction company’s stock worth $1,891,215,000 after purchasing an additional 175,184 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Quanta Services by 7.1% in the 1st quarter. Royal Bank of Canada now owns 1,264,827 shares of the construction company’s stock worth $694,415,000 after purchasing an additional 83,363 shares during the period. First Trust Advisors LP boosted its stake in shares of Quanta Services by 18.3% in the 1st quarter. First Trust Advisors LP now owns 1,003,917 shares of the construction company’s stock valued at $551,170,000 after purchasing an additional 155,529 shares during the last quarter. Finally, Amundi boosted its stake in shares of Quanta Services by 10.3% in the 1st quarter. Amundi now owns 580,718 shares of the construction company’s stock valued at $318,826,000 after purchasing an additional 54,237 shares during the last quarter. 90.49% of the stock is currently owned by institutional investors.

Quanta Services Stock Down 0.8%

NYSE:PWR traded down $4.68 during trading hours on Friday, reaching $601.48. The company had a trading volume of 740,843 shares, compared to its average volume of 1,758,007. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 0.60. The firm has a market cap of $90.63 billion, a price-to-earnings ratio of 54.48, a P/E/G ratio of 1.55 and a beta of 1.29. The business’s 50-day simple moving average is $627.61 and its two-hundred day simple moving average is $629.55. Quanta Services, Inc. has a twelve month low of $408.36 and a twelve month high of $788.75.

Quanta Services (NYSE:PWR) last posted its quarterly earnings results on Thursday, October 29th. The construction company reported $6.06 earnings per share for the quarter, beating the consensus estimate of $5.02 by $1.04. Quanta Services had a net margin of 4.51% and a return on equity of 23.56%. The firm had revenue of $12.01 billion during the quarter, compared to the consensus estimate of $11.03 billion. During the same period in the previous year, the firm posted $3.33 earnings per share. The business’s revenue was up 57.4% compared to the same quarter last year. On average, equities analysts expect that Quanta Services, Inc. will post 16.61 earnings per share for the current year.

Quanta Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Thursday, October 1st were paid a $0.11 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.44 annualized dividend and a dividend yield of 0.1%. Quanta Services’s dividend payout ratio (DPR) is currently 3.99%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on PWR shares. Sanford C. Bernstein upgraded shares of Quanta Services from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $748.00 to $775.00 in a research report on Thursday, September 24th. Piper Sandler cut their price target on shares of Quanta Services from $714.00 to $701.00 and set an “overweight” rating on the stock in a research report on Monday, November 9th. Jefferies Financial Group reiterated a “buy” rating and set a $760.00 price target on shares of Quanta Services in a report on Monday, November 2nd. Mizuho set a $684.00 price objective on Quanta Services in a research note on Wednesday, October 7th. Finally, BTIG Research lowered Quanta Services to a “hold” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Quanta Services presently has an average rating of “Moderate Buy” and an average target price of $763.31.

Quanta Services Profile

Quanta Services, Inc. provides specialized contracting and infrastructure services to the electric power, energy and communications industries. Its work spans the planning, design, construction, repair and maintenance of essential infrastructure. The company’s services include electric transmission and distribution lines, substations, renewable energy facilities, natural gas and pipeline systems, and communications networks. Quanta supports projects across the infrastructure lifecycle, from initial development and construction to ongoing upgrades and maintenance.